OpenZeppelin Security Partnership - 2022 Q2 Adjustment V2
01Summary
This proposal updates OpenZeppelin's security services payment from a direct COMP contributor grant to a Sablier stream. It sets OpenZeppelin's contributor COMP speed to zero and creates a new Sablier stream to pay them approximately 8.93 million COMP tokens from April 6, 2022 to July 1, 2022, correcting a timing issue from a previously canceled proposal.
- Type
- treasury allocation
Key changes
- Set OpenZeppelin's ContributorCompSpeed to zero, discontinuing direct COMP stream payments(high)
- Approve 8.93 million COMP tokens to Sablier contract for streaming payments(high)
- Create Sablier stream to OpenZeppelin with 8.93 million COMP tokens, streaming from April 6, 2022 to July 1, 2022 (Q2 2022)(high)
Notable concerns
- This proposal corrects a timing issue from previously canceled Proposal 94
- Replaces existing contributor grant mechanism with new payment stream
Generated by Kvorum
02Description
OpenZeppelin Security Partnership - 2022 Q2 Adjustment V2
Background
There was a timing issue with the Sablier stream creation in the canceled Proposal 94 that has been corrected in this proposal.
Starting on Dec 21st, 2021, OpenZeppelin was selected to offer the Compound DAO security services including continuous audit, security advisory, and monitoring.
OpenZeppelin has finished auditing the Compound Deployed Contracts and finalized the CToken Refactor audit (details here). On the Security Advisory services, OpenZeppelin has been focusing on improving the security of the Proposal Process and Asset Listings. Finally, on Security Monitoring, OpenZeppelin is aiming to release an initial solution by the end of March.
Replacing Existing Contributor Grant with Sablier Stream
As outlined in the original proposal, at the start of every quarter OpenZeppelin will create a proposal to update the service fee payment in accordance with the formula outlined in the proposal.
As it is the beginning of a new quarter, OpenZeppelin is updating its streaming grant and replacing its existing COMP stream with a Sablier stream. This governance proposal sets the OpenZeppelin ContributorCompSpeed to zero and sets up a Sablier stream to OpenZeppelin instead.
More detail in this forum post
03Mismatch analysis
The description states two concrete actions: (1) zero out OpenZeppelin's existing ContributorCompSpeed, and (2) set up a new Sablier stream to OpenZeppelin for the quarter. The decoded calldata matches this exactly: action 0 sets the ContributorCompSpeed for OpenZeppelin's address to 0; actions 1 and 2 approve the COMP token spend and create a Sablier stream to the same OpenZeppelin recipient address used in action 0. The stream dates (Apr 6 - Jun 30, 2022) align with the 'Q2' framing in the title, and the recipient address is consistent across actions 0 and 2. The description does not specify the exact COMP amount or stream dates, but this is reasonable summarization referencing the linked forum post and formula from Proposal 76, not a misrepresentation. No target, value, or directional mismatches were found. Confidence is high because the calldata directly and unambiguously implements the two claims made in the description with no hidden or extra actions.
Generated by Kvorum
04Actions
- Target
- 0x3d98…cd3b
- Value
- 0 wei
- Function
- _setContributorCompSpeed(address,uint256)
- Arguments
{ "0": "0x57C970568668087c05352456a3F59B58B0330066", "1": "0" }- Calldata
- Target
- 0xc00e…6888
- Value
- 0 wei
- Function
- approve(address,uint256)
- Arguments
{ "0": "0xCD18eAa163733Da39c232722cBC4E8940b1D8888", "1": "8928571428571430000000" }- Calldata
- Target
- 0xcd18…8888
- Value
- 0 wei
- Function
- createStream(address,uint256,address,uint256,uint256)
- Arguments
{ "0": "0x57C970568668087c05352456a3F59B58B0330066", "1": "8928571428571430000000", "2": "0xc00e94Cb662C3520282E6f5717214004A7f26888", "3": "1649203200", "4": "1656633600" }- Calldata
05Tally
Summed from votes
06Voters
No votes recorded yet.
07Forum
- Proposal: OpenZeppelin Security Partnership - 2022 Q2 Adjustment ↗discourse · high confidence
- Proposal Security Process Discussion ↗discourse · high confidence
Arguments for
- The proposal simply continues the quarterly compensation formula for OpenZeppelin's security services as originally approved by COMP voters in the on-chain December 2021 proposal.— cylon
- OpenZeppelin has been transparent about its repeated execution mistakes, explained the technical root causes, and proactively refunded gas costs to affected voters.— cylon
- OpenZeppelin is improving its process by adding buffer time to Sablier startTime parameters and automating queue/execute steps via Defender Autotasks to prevent further failures.— cylon
- When Sablier repeatedly proved problematic, OpenZeppelin pragmatically switched back to the simpler built-in COMP streaming function and simulated execution to ensure success.— cylon
Arguments against
- There is a discrepancy between the on-chain proposal text (quarterly payments) and the incorporated Google Doc 'Final Proposal' (which stated a 6-month period and two payments), raising concern that the DAO may not have clearly approved the terms being enacted, especially given the proposal involves roughly $4M/year.— kleong
- Multiple consecutive failed proposal executions (timing issues with Sablier's startTime, and a deposit-not-divisible-by-duration error) demonstrate poor process reliability and repeated user error.— arr00, yuradmt, cylon
Unresolved concerns
- Whether COMP holders who voted based on the linked Google Doc's terms (6-month/two-payment structure) may have been operating under different assumptions than the on-chain text, and how such discrepancies should be handled going forward.— kleong
- Whether Sablier v1 is fundamentally unsuited for time-sensitive Compound governance proposals given repeated startTime and divisibility failures, pending future protocol fixes.— cylon, paulrberg, yuradmt
- Whether the proposed Defender Autotask automation tool is reliable and safe enough to be recommended for broader community use in future proposals.— cylon
Notable participants
- cylonProposer from OpenZeppelin who submitted multiple versions of the compensation proposal, explained technical failures, refunded gas costs, and responded to community concerns.
- kleongCommunity member who raised a detailed concern about discrepancies between the on-chain proposal and the referenced Google Doc's fee structure terms.
- paulrbergSablier team representative who explained the protocol's startTime limitation and noted plans to fix it in future releases.
- arr00Community member credited with identifying the first Sablier timing issue that led to cancellation of the initial proposal.
- yuradmtCommunity member who identified the on-chain execution failure due to a deposit-divisibility issue in the Sablier stream.
Generated by Kvorum
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